Jon Corzine and MF Global: “The System Failed Us”
Posted by Larry Doyle on May 23, 2012 6:08 AM |
Almost eight months and still the customers of MF Global both here in America and overseas wait for restitution of their funds . . . and the American public waits for justice.
But this story is passe and it is time to turn the page, correct? On to the 2012 campaign. The war on women. The debate over private equity. Who’s married to whom? Folks, those topics may be worthy of debate, BUT they are sideshows as the theft and destruction of our trust, integrity, and confidence continues.
Many situations and individuals have been party to the theft and destruction. In my opinion, though, no one situation and no one individual more than MF Global and Jon Corzine.
Let’s beat this drum again, and absorb the following from a Frontline documentary which aired last evening. I thank the regular reader who brought this to my attention:
“The system has failed us.”…”I mean, what’s the point. We may as well not have the regulator.”…”Nobody was going to look out for us.”
Financial regulatory reform?
Are you kidding me?
MF Global customers awake once again this morning wondering if and when they will get their money. Every day that goes by without those funds being repatriated to these customers is another day in which our political leaders and financial regulators fail all of us.
You will NOT need a second cup of coffee today after taking in this 20-minute clip which goes inside MF Global and lays out in spades THE classic case of Wall Street-Washington incest.
Feel like taking a shower?
Thoughts, questions, comments, constructive criticisms encouraged and appreciated.
Related Commentary: Sense on Cents/MF Global-Jon Corzine
I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.